Meats Futures Prices
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H&S Neckline with Measured Move Target Price
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Good Morning! From Allendale, Inc. with the early morning commentary for July 21, 2017 Grain markets are concentrating on the weather. On each model...
- Weekly Charts
Look for patterns
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Highly Accurate Technical Analysis for Today, 3 to 5 Days Out, 2 to 3 Weeks Out and 2 to 3 Months Out
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Good Morning! From Allendale, Inc. with the early morning commentary for July 20, 2017. Grain markets are consolidating as traders wait for this morning’s...
- The Cullen Outlook – UPDATE (Live Cattle)
On Friday 7/14 we got involved SHORT on the cattle near 117.50 when we saw old support becoming new resistance. The 118.00 level had some points that...
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Lean hog futures ended with nearby contracts steady to 97.5 cents lower and back months higher. The CME Lean Hog Index for 7/19 was 40 cents lower than the previous day at $92.00. The USDA pork carcass cutout value was $1.24 lower in the Friday afternoon report, with a weighted average of $102.78. All primal cuts were lower, with the butt down $5.94. The national base hog carcass price was 88 cents lower with a weighted average of $83.33 in this afternoon’s report. FI hog slaughter through Saturday was estimated at 2,213,000 head, 18,000 head more than last week and 72,000 more than the same week in 2016. Aug 17 Hogs closed at $81.100, unch, Oct 17 Hogs closed at $67.225, down $0.625 Dec 17 Hogs closed at $61.975, down $0.975
Live cattle futures finished the day with most contracts 7.5 to 55 cents in the green. Feeder cattle futures were also 50 to $1.10 in the green on Friday. The CME feeder cattle index was up $1.81 on July 20 to $149.03. Wholesale beef prices were lower in the afternoon report, with choice boxes down 74 cents at $206.91 and select 78 cents lower at $194.80. Week to date estimated FI cattle slaughter is 622,000 head through Saturday, 7,000 below last week and 25,000 above the same week last year. Cash trade was even with last week and higher from earlier this week at $119.50 to $120.50 across most regions. The USDA showed cattle on feed July 1 at 10.821 million head, a 4.49% jump over last year, with June placements of 1.77 million head 16.07% larger than 2016. Both of those were well above the trade guess. June marketings were lower than expectations at 1.989 million head, up 4.03% from last year. The Cattle Inventory report indicated all cattle and calves at 102.6 million head, 4.5% larger than the last July report in 2015. The Beef cow inventory was at 32.5 million head, 6.6% larger than 2015, with heifers for replacement down 2.1% from two years ago at 4.7 million head. Aug 17 Cattle closed at $116.425, up $0.550, Oct 17 Cattle closed at $117.400, up $0.325, Dec 17 Cattle closed at $118.175, up $0.075, Aug 17 Feeder Cattle closed at $152.950, up $0.675 Sep 17 Feeder Cattle closed at $153.150, up $0.825 Oct 17 Feeder Cattle closed at $151.950, up $1.100